Colorado’s reputation as a haven from natural disasters isn’t what it used to be.

The state now ranks among the top 10 for the highest share of homeowners insurance claims paid out due to catastrophes, alongside more traditional disaster magnets like Texas and Louisiana. That trend is translating into upward pressure on premiums and more stress on insurer finances, industry experts said.

“Homeowners insurance is still affordable, but there is a worry about people being priced out,” said Carole Walker, executive director at Rocky Mountain Insurance Information Association.

From 1997 to 2006, catastrophes triggered only 26 percent of the claims made on homeowners policies in the state, according to an analysis from the Insurance Research Council.

But from 2007 to 2011, 41 percent of the claims paid out against homeowners policies in the state were due to large-scale events, the ninth highest share of any state.

The insurance industry relies on Property Claim Services to designate catastrophes, which are large-scale events that trigger a high number of claims — think earthquakes, major winter storms, hurricanes, wildfires, riots, etc.

What bedevils insurers is that catastrophes are hard to predict and set aside reserves for, said Kelly Campbell, vice president for state government relations with the Property Casualty Insurers Association of America.

Premiums collected can fall short of the money needed to pay claims when catastrophes surge. Adjusters need to be brought in from outside and rebuilding costs can skyrocket, she said.

In 2006, Colorado insurers paid out 69.2 cents in claims for every dollar they collected in homeowner insurance premiums. But in 2010, the most recent year available, they had paid out $1.37 in claims for every $1 premium collected, according to the PCIAA.

Normally, good and bad years balance each other out, but the nation as a whole has suffered a long-running surge in catastrophes since the middle of the last decade, said David Corum, a vice president with the Insurance Research Council.

In 2001, the amount of claims paid out in the state, averaged across every insured house, was $261.36, with only $59.92 of that going to cover catastrophe-related claims.

In 2011, the average claim per insured home was $638.33, with $248.93 paid out on catastrophe claims. Those numbers were worse in 2010 and 2009, when catastrophes represented 50 percent and 64 percent of claims.

It is worth noting that the frequency of claims paid has dropped by 39.2 percent from 1997 to 2011 in Colorado, while the severity of the claims, or the amount paid out per claim, has risen 261 percent.

Aldo Svaldi has worked at The Denver Post since 2000. His coverage areas have included residential real estate, economic development and the Colorado economy. He's also worked for Financial Times Energy, the Denver Business Journal and Arab News.